The real beginning of our journey to relaunch this store in 2025 came from purchasing the business. Are you considering purchasing an entire Shopify store from business marketplaces such as Flippa, Acquire, BizBuySell, or eBay? Before you take the plunge, it's essential to understand a few key considerations, and have a checklist in place to ensure a successful acquisition. This is by no means a comprehensive list, but let's dive into the important factors you should keep in mind when buying a Shopify store.

Financial Due Diligence

Before we get into the financial aspects of the potential business, be sure to look at your own personal financial situation first. Do you have the funds? There is this concept called "opportunity cost" which basically means you have to choose: if you spend money to buy this business, would your money have been a better investment somewhere else? This forces you to think of what you miss out on, because you are dedicating your money to buying this business. And this is true for credit card or loan debt. Your purchasing power (available credit to buy other things) is reduced once you commit to following through on this transaction. My comparison is not always to stocks and mutual funds, it is a mental comparison to other business listings, and I try to estimate which one would potentially give me the best result.

With all that being said, before making any decisions, conduct a thorough financial due diligence of the Shopify store you are interested in. Review important details such as: (1) revenue streams; (2) profit margins; (3) expenses; and (4) cash flow to ensure the business is financially healthy and sustainable.

You can request screenshots, reports, statements, emails, and other evidence to help to decide if this is worth your time and money to buy the business. And remember, even if there is limited data because of slow periods or temporarily pausing operations, you can still ask questions. It's doesn't have to be a perfect fit. You just need to feel good about making the decision to move forward or not.

Traffic and Customer Base

Shopify can help on this point with some of the canned reporting that is built-in to the store. Otherwise you will need to see if other sources of truth are available such as Google Analytics, or maybe Shopify apps that were previously installed. Examine the traffic sources and customer base of the Shopify store. Understand where the traffic is coming from, the customer demographics, and the retention rate. A strong and engaged customer base is crucial for the long-term success of the business.

There is more to it than just reviewing the list of Shopify customers from that store. You can also ask about engagement metrics from social media posts, and advertising campaign reports to estimate the interest level and customer response.

Brand Reputation and Reviews

Feel free to conduct online searches for the store name or products and see what results come back. Check the brand reputation of the Shopify store by looking at customer reviews, ratings, and feedback. A positive brand image and good reviews can help you maintain customer trust and loyalty after the acquisition.

And again remember to ask if they previously installed Shopify apps. For example, if apps were used to handle customer reviews, or net promoter score (NPS) surveys, or feedback about customer satisfaction (CSAT), then you can ask to see some dashboards or reporting from those apps. You never know what valuable insights you might uncover.

Legal and Compliance Issues

Look at where the business is located, and where are the customers located. Ensure that the Shopify store complies with all legal requirements and regulations. What legal requirements you say? You may already have some of this taken care of through your normal business formation activities, but consider the following: (1) tax registration, including at the local level to collect and report sale taxes; (2) reseller's certificate, if required in your jurisdiction to buy items at wholesale for the purpose of selling through the Shopify store; (3) how to handle personal identifying information (PII data) from customers, including consumer rights to opt-out of sharing their data and/or deleting it from your business records; (4) displaying a web browser cookie banner; (5) licensing the software used through your Shopify store (and the fonts you use!); (6) trademark registration updates, and copyright renewals; (7) business liability insurance; and probably so much more.

It will become your responsibility to review the store's terms of service, privacy policy, and any other legal documents to avoid any potential legal issues in the future. Shopify does a good job of helping by providing suggestions and templates for these types of policy updates.

Inventory and Suppliers

Two words here in 2025 to keep in mind for "extra" costs: tariffs and customs. If the Shopify store sells physical products, assess the inventory levels and supplier relationships. Make sure there are reliable suppliers in place to fulfill orders and maintain inventory levels to meet customer demand. You have to ask yourself if switching suppliers is even possible. What are the costs involved? Can you afford to have products manufactured and shipped from overseas or foreign countries?

This also holds true for digital products such as ebooks, music, images, and other products that are not physical inventory. You would want to know how to continue creating these products, and more information about the supplier. An important note that could've also been mentioned earlier for legal, is about intellectual property rights for digital products (well, any product for that matter). Make sure you have the right to own and sell those products. You cannot rely on faith that certain things are free, or have moved into the public domain. It's up to you to verify everything, and have proof, just in case you are asked for evidence in the future.

Technology and Infrastructure

What is the technology stack and infrastructure of the Shopify store? Check if the website is mobile-friendly, streamlined for search engine optimization (SEO), and integrated with essential tools and plugins for e-commerce success. Ask who is the domain name registrar? How would you edit the domain DNS records? And what domains are included in the purchase of the business?

Anther important point is about security. What existing measures are in place to reduce fraudulent activity through the store? For example, blocking automated bots, validating details upon checkout, reducing customer chargebacks on their credit card, etc.

Transition and Support

Is the store currently live and processing orders? Plan for a smooth transition after the acquisition. Discuss this upfront with the seller about the handover process, training, and ongoing support to ensure a seamless transfer of ownership and operations.

If taking the store offline is necessary, you will need to think of a communication plan to inform customers about upcoming changes.

Growth Opportunities

The benefit of asking all of these types of questions before closing the deal, is you might easily identify potential growth opportunities for the Shopify store. Look for ways to expand the product line, target new markets, or improve marketing strategies to maximize the business's potential after the acquisition.

By considering these key factors and following a checklist, you can make an informed decision when buying a turnkey Shopify store from business marketplaces. Remember to seek professional advice and guidance throughout the acquisition process to mitigate risks and maximize the potential of your new e-commerce venture. More to come . . .